Some currency pairs tend to “play by the rules” of technical analysis – when approaching a clear line of resistance or support, the pair will bounce back. And if the pair has the momentum to cross the line, it makes a clear break and doesn’t look back. But not all currency pairs are equal. Some … “5 Most Predictable Currency Pairs II”
Author: admin_mm
Britain’s Pound Falls with Mortgage Approvals
The Great Britain pound fell today and traded near the lowest level in four months against the euro after the report showed that the number of the mortgage approvals in Britain declined, adding to the signs of the slowing recovery. The UK approvals secured on dwellings declined from 48,346 in July to 47,372 in August. This reading was in line with the forecasts. The concerns for Britain’s economy make the sterling one of the worst-performing currency among its major counterparts, except … “Britain’s Pound Falls with Mortgage Approvals”
Chile’s Peso Rises on Industrial Production & Retail Sales
The Chilean peso rose today after the report showed that the nation’s industrial production increased with fastest pace in more than four years and the retail sales grew. Chile’s industrial production expanded 6.9 percent in August, the biggest increase since January 2006. The industrial output dropped 17 percent after the 8.8-magnitude earthquake on February 27th and subsequent tsunami, which caused the damage equal to more than the sixth of Chileâs gross … “Chile’s Peso Rises on Industrial Production & Retail Sales”
Franc Heads to Record vs. Dollar
The Swiss franc rose to the highest level since March 2008 against the US dollar as the report showed that the consumer confidence in the US dropped, increasing the appeal of the Swiss currency as the safe haven. The franc also surged against the euro before retreating to the opening level. The consumer confidence retreated in September to 48.5 from 53.2 in August. That’s compared to the median forecast of 52.5. The prospect for more quantitative easing by the Federal Reserve also weakens the dollar … “Franc Heads to Record vs. Dollar”
Poor US Macroeconomic Reports Increase Appeal of Yen
The Japanese yen rose today to the highest level against the US dollar since the intervention as the US macroeconomic reports today were worse than most pessimistic forecast promised, increasing the attractiveness of the Japanese yen as the safe haven. The currency slipped against the euro. The Conference Board consumer confidence declined from 53.2 to 52.5 this month, while the traders expected the drop to only 48.5. The Richmond Fed Index of Manufacturing Activity tumbled 11 … “Poor US Macroeconomic Reports Increase Appeal of Yen”
Dollar Down vs. Euro on Outlook for Poor US Economic Reports
The US dollar weakened today against the euro, trimming the previous gains on the concerns about Europe’s economy, as the analysts expect the reports today to show that the house price declined and the consumer confidence deteriorated in the US. The analysts estimated that the Standard & Poor’s Case-Shiller House Price Index dropped from 4.2 percent to 3.1 percent in July. According to their predictions, the Conference Board consumer sentiment dropped from 53.5 to 52.5 in September. … “Dollar Down vs. Euro on Outlook for Poor US Economic Reports”
Concerns for Europe’s Economy Make Zloty Weaker
The Polish zloty fell today on the renewed concerns for the Europe’s fiscal condition and the ability to fight the budget deficits. For now the currency tries to regain its strength but encountered the resistance. The Standard & Poorâs said that the downgrades of the credit rating most likely would continue as the deficits and the demographics put pressure on the finances. It looks like Ireland now added to the list of countries, which are causing strongest concerns. USD/PLN traded near … “Concerns for Europe’s Economy Make Zloty Weaker”
Why Some Traders Almost Always Profit
Guest post from visionsofaffluence.com In this crazy business we call forex trading it may be difficult for some to imagine that anyone can remain profitable over the long haul. The markets themselves are often wildly unpredictable so much so that most people find it extremely difficult to be profitable on a single day let alone being … “Why Some Traders Almost Always Profit”
Fundamental Overview – Market Movers Last Week – 9/27/2010
The U.S. Dollar continued its slide against all the major currencies last week, extending the previous week’s losses. The U.S. Dollar Index lost -2.00 points last week to close under the psychological 80.00 level at 79.40, showing an overall loss of 2.46 percent on the week. By far, the most significant price action seen last … “Fundamental Overview – Market Movers Last Week – 9/27/2010”
Canadian Dollar Falls with Stocks & Oil Prices
The Canadian dollar fell today after the stocks and the crude oil prices declined, erasing the demand for the growth-related currencies, and as the speculation, that the Bank of Canada would refrain from rising the interest rates further, decreased the appeal of the Canadian currency. The Standard & Poorâs 500 Index fell 0.6 percent. November delivery for crude oil dropped as much as 1.3 percent to $75.52 per barrel on the New York Mercantile Exchange. The equities and the oil prices … “Canadian Dollar Falls with Stocks & Oil Prices”